Teréga overwhelmed with orders for slim €400m bond
Teréga, the French gas transport utility, enjoyed chunky demand for a €400m bond issue on Thursday, despite its sub-benchmark size.
Teréga, rated Baa3 with a stable outlook, started marketing its €400m eight year note at initial price thoughts of 125bp to 130bp over mid-swaps.
BNP Paribas, Crédit Agricole, Natixis, Société Générale and UniCredit were bookrunners.Orders piled in, topping €3.5bn and enabling guidance to be set more than 30bp tighter at 95bp, ...
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